At this year's CES, Faraday Future unveiled their highly anticipated electric vehicle - the FF 91. The FF91 is their first production vehicle, and the company plans for it to compete directly with Tesla.
However, the company has been struggling with certain financial problems for a while now. It was reported that the company had to stop factory construction to afford their glamorous event at CES.
The company has announced now that they are on schedule and they are entering "phase 2 of stage 1" on their project, meaning that they entered the competitive bidding process for the construction of their factory.
Faraday Future will move along with this competitive bidding process after vetted discussion, and we look forward to starting the construction of our Phase 2 plant as soon as possible. Our Phase 2 construction includes an additional facility which will be built onsite to deliver our flagship vehicle, the FF 91, including the ultra-luxury limited Alliance Edition models, for our first group of users globally.
The production of the FF 91 is planned for 2018, and we will see if the company will stick with that schedule. The $180,000 priced electric car can accelerate from 0 to 60 mph in 2.39 seconds and comes with many interesting features like facial recognition technology, NASA-inspired zero gravity seats, and of course - the FF 91 can park itself.
The company also stated that they would invest $1B in the State of Nevada over the next few years which is where the facility is located.